Wednesday, February 18, 2009

Homegrown stimulus

Danny announces $800m stimulus package.

On a per-capita basis, that's about $52 billion from the Canadian federal government.

I remain unsure that the most heavily-indebted province in Canada should be doing this, particularly given that regardless of what we'd like to believe, oil is not a renewable resource, oil prices are in the tank, and that the prospects for more oil post-Hebron look bleak. All of that plus my inherent skepticism about stimulus.

The deficit will be remarkable, too. I think we were already in the red pre-stimulus, so easily a billion dollars for 2009, probably more. Imagine if Harper tried to run a $75-100 billion deficit.

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